Facebook Crypto May Bring $19B, - Barclays

Barclays analyst expressed the opinion that own coin could bring the largest social network from 3 to 19 billion US dollars of additional income by 2021
12 March 2019   287

According to analyst of the financial conglomerate Barclays Ross Sandler, the stablecoin of  Facebook can bring it billions of dollars in additional revenue. This is reported by CNBC.

In a note for investors, Sandler expressed the opinion that own coin could bring the largest social network from 3 to 19 billion US dollars of additional income by 2021.

The analyst stressed that his forecast completely depends on whether “Facebook Coin will prove its effectiveness in activating the micropayment strategy for distributing digital content.” In his opinion, the main task of Facebook is “to demonstrate the competitive advantages to users against the background of the current payment opportunities”. In addition, social networks need to restore user confidence "after the problems of 2018".

Based on our checks, the first version of Facebook Coin may be a single purpose coin for micro-payments and domestic p2p money transfer (in-country), very similar to the original credits from 2010 and Venmo today.

Ross Sandler

Analyst, Barclays

In 2017, Facebook's total revenue amounted to $ 40.6 billion. Of these, $ 39.9 billion is revenue from advertising. 

Bitcoin to be an Asset, - Israeli Court

Judge Sh. Bornstein ruled that BTC is an asset, not a currency in a legal disput between trader and local tax authority, which wants him to pay $830k profit tax
22 May 2019   78

The central district court in Israel in the framework of the case of the founder of the blockchain-startup against the tax service identified Bitcoin as an asset subject to capital gains taxes, Globes reports.

So, in 2011, the creator of DAV.Network, Noam Kopel, acquired bitcoins, which he sold two years later, making a profit of 8.89 million new Israeli shekels ($ 2.29 million). Then Kopel entered a legal dispute with the tax service over the nature of the first cryptocurrency: he believes that it is a foreign currency, and the authorities insist that it is an asset.

Judge Shmuel Bornstein stressed that Bitcoin may cease to exist and lose to another digital currency, therefore, it cannot be considered a currency, especially in a tax context.

Thus, the court ordered Kopel to pay taxes in the amount of $ 830,600, as well as legal costs of $ 8,306. However, the defendant may still appeal to the Supreme Court.

Back in December last year, the Israeli tax service announced that it intends to fight with deviationists from the cryptocurrency sphere. Cryptocurrency holders in the country are subject to capital gains taxes (25-30%).